Source: https://cointelegraph.com/news/how-cme-groups-bitcoin-futures-will-work
Silver and Gold holders get “visibly irate” anytime you mention the Comex Group for they know that for many decades they have SUPPRESSED the price of gold and silver (government directive if you ask me).
Now we have the CME Group adding Bitcoin futures on Dec 18th — which means “without owning any physical Bitcoin” they can set a price and BET on that future price of Bitcoin —- ALL trades only settled in CASH — Bitcoin is never involved.
So this sounds pretty stupid.
BUT- this is how the price of Gold/Silver is set on a daily basis for decades —- so now you understand the anger.
Bankers think they can do the same with Bitcoin to “control it...to manipulate it for their gain” — that is how they play.
Note how Goldman Sachs and JP Morgan like the Bitcoin futures market ....I wonder why?
Clif HIgh has said “this experiment will FAIL” very quickly. He said maybe there will be some immediate price effects down/up etc.... but that very quickly it will not end well for their experiment and Bitcoin will do what it does.
So maybe this will expose the CME for who they are and what they are doing in other markets. We will see :-)
It will be interesting to see its impact on market cap. If it could bring more people into crypto, there would be no stopping crypto as adoption will increase their value even further.
They do go “hand in hand”...the more people adopt or use...the greater the price will be :-)
It becomes stinky when those big groups arrives in our world.
Agreed. My read into what Clif said is that this will not end well for CME. Maybe it will bring more light on their criminal ways.
We all have to fight by every way possible the old system and their crimes and corruption.
I agree. Do a little surfing on the posting by Q Anon on 4 chan and 8 chan and learn about the 4000 sealed indictments that will take down many. We will see.